For a long time, adult entertainment was a preserve of only those that would go the extra mile. The magazines and video cassettes had a reserved place in the deepest dungeons of the house; in the darkest nooks where no ordinary accident would expose their hideout. Then came the internet and everything changed.
For a few cents, you can get a damsel to entertain you for a reasonable period. With a good internet connection, you now can download hours upon hours of free content. The need to keep a reputation and humanity’s constant quest for privacy, however, demands that certain aspects of life are kept private. So, how is Bitcoin and tumbling Bitcoins rescuing the increasing number of individuals that seek illicit entertainment?
Back in the Day…
While taking part in an opening skit for the 65th Prime Time Emmy Awards ceremony on September 22, 2013, Conan O’Brien remarked, “…back then, there was no internet, you had to pay for pornography.” The renowned late-night talk show host was referring to simpler days of not-so-long-ago when adult content cost an arm and a leg.
Fast-forward to the 21st century and the lay of the land has changed substantially. Money is not even necessary when you want to get adult content. Besides, if you want to get one-on-one with a cam model, then you do not have to worry about leaving a trail. This is so since you do not have to pay using debit cards; cryptocurrencies can provide you will some modicum of privacy, and that is if even without considering services such as tumbling Bitcoins… well, kind of!
Why is crypto gaining much traction in the adult entertainment industry?
Difficulty Working with Traditional Payment Methods
Cryptocurrency payment platforms are a boon for the porn industry. This is so because porn is one of the two products that have not had a good working arrangement with traditional banks. The other is cannabis.
Sex workers and adult products and content companies have a long-standing experience of discrimination. Many banks have banned sex workers and struck them off the list of customers. Alternative payment methods have not been kind either. PayPal, the leading online wallet, for instance, has on repeated occasions, cut off customers from the adult industry and gone ahead to hold the customers’ balances.
A growing number of innovators in the cryptocurrency payment space have noted this challenge. For a few years now, the crypto space has made some impressive penetrations into the porn industry. The narrative will look at the strides in just a bit. First, however, here are some staggering facts you should internalize.
Porn Data by the Second
About 28,000 individuals are watching porn online every waking second! During the said time, some $3 million are spent on the materials watched. Within the same time frame, the search word “adult” is typed by some 370 individuals. These facts give a glimpse of just how big the porn industry is.
According to market research undertaken by VogoV, a porn studio, there are almost 500 adult video sites that accept cryptocurrencies. Along with these sites are 35 sex shops and 50 webcam platforms that accept the same payment mode.
Considering the number of pornographic materials, sites, shops, and platforms out there, these figures are a drop in the ocean. However, it points to a tide that is already welling.
The porn industry was initially fidgety about the cryptocurrency space. Established brands such as Pornhub and Wicked deliberated for years about adopting crypto.
However, the shunning that the sector faced from mainstream payment methods left it with not much of a choice. Besides, the marriage between cryptocurrencies and the porn industry seems to be a match made in heaven, pun intended!
The Association is Breeding Acceptance and Acknowledgment
The crypto space fosters innovation; you probably are aware of how tumbling Bitcoins and bitcoin mixers have helped enhance security and privacy in the space. Crypto payment platforms took this innovation to the porn industry, which probably explains why cryptocurrencies are gaining traction into the adult industry considerably faster.
The porn industry, on its part, has led other sectors in the technology curve for a while now. The Sonnets to Vulvas were written on Sumerians tablets back in 3400 BC. Showcasing Erotica, David Kushner thinks, was among the trailblazing uses of new tech, and more than 75% of tapes for VCRs sold in the 1970s had porn content.
Today, the industry stands out as a sector that has significantly adopted cryptocurrencies. The UK boasts of the first Bitcoin brothel which was established back in 2013. CamSoda, a cam models website pays a huge portion of its performers using cryptocurrencies.
Tumbling Bitcoins Aside, Award Invitations Streaming In
For all these strides, cryptocurrency has received an official invitation to the banquet table. In 2019, the XBIX Awards, a premier award ceremony that celebrates individuals and companies working in the adult content industry nominated various cryptocurrency startups in various categories. Such collaborations show that the porn industry has reckoned that the crypto space is not only a convenient payment platform but is also a reliable ally.
Among the blockchain companies that were nominated for XBIZ Awards in 2019 are AV Secure, a preinstalled malware scanner that enhances security when browsing online, and Stroken Token, an adult content platform that allows users to create content and be paid for it using cryptocurrency, via crypto mixers, of course!
Another blockchain entity that received a nomination for the awards is VeriMe, an age-verification solution. VeriMe helps adult content sites ensure that their audience is of age in line with the regulations.
The pornography industry is huge. However, for an industry its size, it experiences several challenges. Key among these is the trouble of finding payment methods that do not discriminate. The cryptocurrency space is proving a boon. With structures that stress privacy and anonymity, cryptocurrencies are allowing users of the adult entertainment space to get go about their fun confidently. Moreover, the blockchain ecosystem has crypto mixers that offer services such as tumbling Bitcoins that ensure your privacy when accessing adult content.